Board of Directors
He has been the vice president of Kunlun Tech Limited, which operates as an internet investment corporation, since 2013. Mr. Fang has also served as vice president of Beijing Kunlun Tech Co., Ltd, a global internet company listed on the Shenzhen Stock Exchange, since March 2011. He worked from 2003 to 2007 as a senior research and development engineer of Oak Pacific Interactive Corporation, which provides internet services and operates social networks. He also worked as a senior research and development engineer for both AsiaInfo, Inc., a software and IT services company, and Turbo Linux Inc., a linux based solutions provider, from 2002 to 2003 and from 1998 to 2000, respectively. He was employed by the Institute of High Energy Physics of the Chinese Academy of Sciences as an engineer from 1995 to 1998. Mr. Fang graduated from the University of Science and Technology of China in 1995, with a bachelor’s degree in nuclear technology.
Duties of Directors
Our directors owe fiduciary duties to our company, including a duty of loyalty, a duty to act honestly and a duty to act in good faith towards our best interests. Our directors must also exercise their powers only for a proper purpose.
Furthermore, our directors owe to our company a duty to act with skill and care to a degree that may reasonably be expected from a person of his or her knowledge and experience. In fulfilling their duty of care to us, our directors must ensure compliance with our memorandum and articles of association, as amended and restated from time to time.
Our company has the right to seek damages if a duty owed by our directors is breached. In limited exceptional circumstances, a shareholder may have the right to seek damages in our name if a duty owed by our directors is breached.
The functions and powers of our board of directors include, among others:
- Convening shareholders’ annual general meetings and reporting its work to shareholders at such meetings;
- Declaring dividends and distributions;
- Appointing officers and determining the term of office of officers;
- Exercising the borrowing powers of our company and mortgaging the property of our company as necessary; and
- Approving the transfer of shares of our company, including the registration of such shares in our register.